VT Stays on Track

VT Group, the support services and shipbuilding company, said it remains on course to deliver results for the first half of the year in line with its expectations. In a statement ahead of the Nov 14 release of results for the first half, the group said its order book currently stands at 3.5 bln stg. Turning to divisional performances, the group said VT Communications has achieved strong revenue growth in the first half and has recently been awarded an initial 5 year contract with a potential value of 20 mln stg million, commencing in January 2007, to broadcast analogue and digital shortwave programmes for Deutsche Welle, the German public broadcaster. VT Shipbuilding continues to make good progress on production of the Royal Navy's Type 45 destroyers. The Royal Navy Offshore Patrol Vessel (Helicopter), HMS Clyde, is set to be deployed to the Falkland Islands next Spring. Negotiations with the Sultanate of Oman for the construction of three Ocean Patrol Vessels continue to progress, with contract completion expected before the end of 2006, the group added. Source: afxnews